An idiot with a plan can beat a genius without a plan, thus giving the importance of planning and management. Planning is also a management process, concerned with defining goals for a company's future direction and determining the missions and resources to achieve those targets. The primary purpose of planning is to create universal buy-in and understanding of the objectives and to put operational processes in place to guide the organisation towards their achievement. To meet objectives, managers may develop plans, such as a business plan or a marketing plan. There are four main challenges when it comes to strategic planning like lack of ownership, poor communication, lack of alignment and slow adoption. It is important to understand what is at the core of these challenges before we dive into solutions. The planning processing has three essential steps determining missions and goals, formulating the strategy and finally implementing the strategy.

Prachi Garg

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